WASHINGTON (dpa-AFX) - Moderna, Inc. (MRNA) on Friday reported a return to profit in the third quarter, supported by higher revenue and lower research and development expenses. The biotechnology company also raised its full-year revenue growth outlook.
Net income was $162 million, or $0.38 per share, compared with a net loss of $200 million, or $0.51 per share, in the same period last year.
Income from operations was $130 million, compared with an operating loss of $260 million a year earlier.
Research and development expenses declined to $583 million from $801 million in the corresponding period last year.
Total revenue increased 29% to $1.313 billion from $1.016 billion in the prior-year period, primarily driven by higher COVID-19 vaccine sales in international markets.
Revenue from the U.S. market amounted to $780 million, while international revenue was $533 million. Net product sales rose to $1.273 billion from $973 million.
For 2026, Moderna now expects revenue growth of 15% to 25%, compared with its previous outlook of up to 10% growth. The company also lowered its research and development expense forecast to approximately $2.7 billion from its earlier estimate of approximately $2.9 billion.
On the Nasdaq, Moderna shares were down about 1% in pre-market trading after closing at $241.46 on Thursday.
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